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  "documentTitle": "Apple Inc. (AAPL)",
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  "authorName": "David Einhorn",
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      "text": "A type of preferred stock that has no maturity date\nThe issuers of perpetual preferred stock will always have redemption privileges on such shares\nIssued perpetual preferred stock will continue paying dividends indefinitely",
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      "text": "iPrefs are a creative way to unlock significant value for shareholders in publicly traded cash rich technology companies. What is a perpetual preferred stock? It's a stock the pays quarterly dividends literally forever. It has no maturity. While Apple would have the right to redeem it at face value, we don't expect them to ever do so.",
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